This package is designed to assist homeowners to obtain a loan modification under the Home Affordable Modification Program (HAMP). Including in this package are the following forms:
1. Request for Loan Modification and Affidavit RMA Under Home Affordable Modification Program HAMP
2. Instructions for Completing Request for Loan Modification and Affidavit RMA Form
3. IRS Form 4506-EZ Short Form Request for Individual Tax Return Transcript
4. Instructions for Completing IRS Form 4506T-EZ
5. How to Request a Home Affordable Modification Guide
Purchase of this package is a savings of nearly 30% compared to purchase of the forms individually!
Houston Texas CAMP Loan Modification Package is a comprehensive program designed to assist homeowners in Houston, Texas who are facing financial hardship and are struggling to make their mortgage payments. The Home Affordable Modification Program (CAMP) is a federal initiative introduced to provide eligible homeowners with a viable alternative to foreclosure by modifying their existing loans. The Houston Texas CAMP Loan Modification Package is an application package that homeowners can utilize to apply for loan modification under this program. It comprises several vital documents required by the loan service to evaluate the eligibility and financial situation of the homeowner. These documents typically include: 1. Hardship Letter: A detailed letter outlining the circumstances that have led to the homeowner's financial hardship, such as unemployment, reduced income, medical expenses, divorce, or other factors affecting their ability to make mortgage payments. 2. Financial Statement: A comprehensive document that provides an overview of the homeowner's current financial situation, including income, expenses, assets, and liabilities. This statement helps loan services assess the borrower's ability to afford modified payments. 3. Proof of Income: Documentation proving the homeowner's income, such as pay stubs, tax returns, profit and loss statements (for self-employed individuals), or other relevant documents. This assists in determining the borrower's income stability and affordability of modified payments. 4. Bank Statements: Recent bank statements demonstrating the homeowner's financial transactions, including savings, checking, and other relevant accounts. These statements help evaluate the borrower's financial stability and overall financial health. 5. Tax Returns: Copies of the homeowner's federal tax returns for the previous two years, including all schedules and attachments. These documents provide a clearer picture of the homeowner's income and financial status. 6. Monthly Expenses: A breakdown of the homeowner's monthly expenses, including but not limited to utilities, insurance, car payments, credit card bills, and other regular financial obligations. This aids in determining the borrower's ability to meet modified payment terms. 7. Property Valuation: A current appraisal or property valuation report to assess the current market value of the home. This valuation helps determine the feasibility of loan modification and potential terms. Different types of Houston Texas CAMP Loan Modification Packages may vary based on the specific requirements of the loan service or investor. Some services may have additional forms or documents that they require homeowners to submit. It is crucial for homeowners to consult with their loan service or a HUD-approved housing counselor for accurate and up-to-date information regarding the specific package requirements. By providing a comprehensive and accurate Houston Texas CAMP Loan Modification Package, homeowners increase their chances of obtaining a successful loan modification, allowing them to retain their homes and establish a more manageable mortgage payment plan.
